Polly, a provider of mortgage capital markets technology, this week announced $25 million in new growth equity capital. The raise was led by 8VC, with participation from existing investors including Menlo Ventures, Meritech, Khosla Ventures, and Fifth Wall. The funds are earmarked for research, development, product innovation (including AI), and expansion.
“8VC recognized early on that Adam and his team had developed a superior and next-generation pricing engine, a platform that was going to truly transform the mortgage capital markets space,” said Alex Kolicich, founding partner at 8VC. “Polly’s success has far exceeded our expectations, and that is due in large part to their teams’ vision, ambition, and strong execution. Nowhere else will you find a team more committed to pushing the boundaries of mortgage tech innovation and to disrupting the status quo.”
Polly said its growth underscores industry demand for an agile, vertically integrated capital markets platform. Such a platform must enable its users to effectively meet the demands of an industry prone to unpredictable ebbs and flows, without the need to constantly monitor and adjust staffing levels based on market conditions.
“Everything we do is designed purposely to drive maximum value, ROI, and success for our customer partners,” explained Adam Carmel, founder and CEO of Polly. “Pivotal to that objective is Polly continuing to lead the industry in terms of innovation and state-of-the-art technology.
“This additional capital will enable our team to continue to pioneer unrivalled product innovation for our customer partners, invest significantly more into our AI platform and capabilities, and deliver world-class implementation and service. We deeply value partnership with our customers, and this is our way of doubling down on our commitment to them. To that end, we have a lot in store for 2025.”
Banks, credit unions, and mortgage lenders nationwide use Polly’s Product and Pricing Engine (PPE), Loan Trading Exchange, actionable data and analytics, and advanced AI/ML to automate and optimize the entire capital markets value chain. The company was founded in 2019
